Founders Advises ASR Nationwide, LLC and Allstar Recovery, Inc. on a Recapitalization
July 2008
Founders Investment Banking, LLC is pleased to announce that the Allstar family of companies—which includes ASR Nationwide, LLC and Allstar Recovery, Inc.—has been recapitalized by middle market equity and debt investors KLH Capital and Plexus Capital. Based in Jackson, Mississippi, ASR Nationwide and Allstar Recovery provide indirect and direct recovery and other automotive remarketing services to local and national clients across the United States. The companies will both become wholly-owned subsidiaries of the newly formed Recovery Holdings, LLC.
Founders Investment Banking acted as the exclusive financial advisor to ASR Nationwide and Allstar Recovery’s shareholders. “This transaction is a great indication of the opportunities available for private company shareholders to access capital that can be used to tailor a solution that meets their specific needs,” said Zane Tarence, Managing Director at Founders Investment Banking. “We were able to creatively structure a transaction that accomplished numerous multi-faceted goals: achieving meaningful personal liquidity, retaining operational leadership within the entities, maintaining significant ownership for the realization of future additional upside, providing access to additional capital to fund growth initiatives and acquisitions, merging two independent/sister companies to simplify the organizational structure, and identifying an experienced partner that can help management grow the company to the next level.”
“The Gay family has built a wonderful business, and we look forward to working alongside Sterling and Shannon to help them realize its full potential in the coming years,” indicated Mark Hunter, Managing Director at KLH Capital. “Founders did an outstanding job for the shareholders, and their professionalism was instrumental in the achievement of a timely and successful closing.”
Founders Investment Banking acted as the exclusive financial advisor to ASR Nationwide and Allstar Recovery’s shareholders. “This transaction is a great indication of the opportunities available for private company shareholders to access capital that can be used to tailor a solution that meets their specific needs,” said Zane Tarence, Managing Director at Founders Investment Banking. “We were able to creatively structure a transaction that accomplished numerous multi-faceted goals: achieving meaningful personal liquidity, retaining operational leadership within the entities, maintaining significant ownership for the realization of future additional upside, providing access to additional capital to fund growth initiatives and acquisitions, merging two independent/sister companies to simplify the organizational structure, and identifying an experienced partner that can help management grow the company to the next level.”
“The Gay family has built a wonderful business, and we look forward to working alongside Sterling and Shannon to help them realize its full potential in the coming years,” indicated Mark Hunter, Managing Director at KLH Capital. “Founders did an outstanding job for the shareholders, and their professionalism was instrumental in the achievement of a timely and successful closing.”
About Founders Investment Banking
Founders Investment Banking is an independent investment banking firm, headquartered in Birmingham, Alabama, that is dedicated to providing a comprehensive range of customized solutions for its clients, including merger & acquisition, corporate and strategic finance advisory services, as well as real estate investment services for owners of, and investors in, income producing commercial real estate.
